The $2.2 trillion stimulus was a good start says celebrity chef Tom Colicchio, but without a much larger bailout and more flexible plan, the restaurant industry will fail.
“I expect 70% of restaurants will close as a result of this,” says Tom Colicchio, founder of Crafted Hospitality and host of Bravo’sWhile President Trump signed the expansive Coronavirus Aid, Relief and Economic Security Act on Friday, Colicchio says the bill is not adequately designed to save America’s restaurants and millions of workers. A key section titled the Paycheck Protection Program has set aside more than $300 billion in aid to small businesses.
and wants to keep the pressure on Congress to do more for America’s hospitality industry. Five hundred local restaurateurs and food entrepreneurs across the country, as well as nonprofits like Food Policy Action and the James Beard Foundation, formed the coalition this month to save local restaurants affected by COVID-19.
“If I hire everyone back now and then we’re not back in two-and-half months then I’m out—I’m out of money,” says Colicchio. “I'd like to know whether I have 5 or 6 months to rehire my original staff.” He says it’s critical that restaurateurs like him have the funds to welcome back original staff in order to avoid lengthy training periods, which will cause further delays in getting back to business.
“We typically don’t have a voice at the table,” Colicchio says about a restaurant bailout, “but there are many of us and we employ so many.” Renowned Chef and ‘Top Chef’ Head Judge Tom Colicchio celebrating a partnership with The Jersey Tomato Co., at his restaurant Little River in NYC on February 25th, 2020, just weeks before having to shut down.According to the Independent Restaurant Coalition, the sector directly employs more than 11 million nationally, not counting the hundreds of millions who work along the food supply chain and food delivery services.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Buccaneers GM says Tom Brady pitched himself to team, expects QB has 'over two years' leftBuccaneers GM Jason Licht said quarterback Tom Brady pitched himself to the team in a way that made their own sales pitch less essential.
Read more »
9 Tom Hanks Quotes to Soothe You During These Trying Times“If we take care of each other, help where we can, and give up some comforts...this too shall pass.”
Read more »
Rita Wilson celebrates being a COVID-19 survivor after returning to LA with Tom HanksTom Hanks' wife Rita Wilson is celebrating being a coronavirus survivor after returning home to Los Angeles. See her heartfelt post here…
Read more »
Matthew Slater says New England Patriots can forge a new identity without Tom BradySuddenly, the Pats find themselves as underdogs starting a new chapter in their history without their two longest-tenured players.
Read more »
The Stimulus Package Isn’t Good Enough for Independent Restaurants and Service WorkersIt’s clear that the bill isn’t the bailout or disaster relief the restaurant industry — independent restaurants or their employees — were counting on to make it through this unprecedented crisis.
Read more »
Column: Trump blocks coronavirus bailout oversight even before it can startTrump says he won't cooperate with bailout oversight, so what is he hiding?
Read more »